Examlex
Pretests of questionnaires for a study on toy buying by young parents can be done on colleagues in the research firm,as long as the colleagues are objective and have not been involved in the development of the questionnaire.
Substitute Goods
These are goods that can be used in place of one another, such that the increase in price of one leads to an increase in demand for the other.
Equilibrium Quantity
The quantity of goods or services that is supplied and demanded at the equilibrium price.
Demand
The desire and willingness of consumers to purchase goods or services at a given price level.
Supply
The total amount of a product or service that is available to consumers at a given price point and time.
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